FOREX-Currencies mark time before trade deal; UK data eyed

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

By Saikat Chatterjee
LONDON, Jan 15 (Reuters) - Major currencies were closeted
within tight ranges on Wednesday as investors awaited the
signing of a U.S.-China trade deal, with the greenback holding
above a one-week low against its rivals.
Though the formal agreement, due in early U.S. hours, is
aimed at drawing a line under 18 months of tit-for-tat tariff
hikes that have hurt global growth, it will not end the trade
dispute between the world's two largest economies.
"I don't think the market is fully convinced about a closure
on the trade conflict front as the issue has caused a lot of
damage to the world economy," said Neil Mellor, a senior FX
strategist at BNY Mellon in London.
U.S. Treasury Secretary Steven Mnuchin said existing tariffs
on Chinese goods would stay, pending further talks. Against a basket of its rivals .DXY , the dollar was steady
at 97.4, just shy of a one-week low of 97.29. The Chinese
currency in the offshore market CNH=D3 was broadly steady.
The Australian dollar AUD=D3 , a relatively volatile
barometer of trade tensions, was a shade weaker at $0.6893.
U.S. President Donald Trump is slated to sign the Phase 1
trade agreement with Chinese Vice Premier Liu He at the White
House at 1630 GMT.
Washington has already agreed to suspend tariffs on $160
billion of some Chinese-made electronics, and to halve existing
tariffs on $120 billion of other goods to 7.5%.
But it will leave in place 25% tariffs on a vast, $250
billion array of Chinese industrial goods and components used by
U.S. manufacturers.
A source told Reuters that China has pledged to buy almost
$80 billion of additional manufactured goods from the United
States over the next two years under the deal, although some
U.S. trade experts called that unrealistic. Elsewhere, the British pound GBP=D3 was broadly steady at
$1.3014 after sustaining some losses in recent sessions thanks
to a chorus of dovish comments from central bank policymakers.
The only major data in the European session is U.K. price
data due at 0930 GMT where inflation is expected to grow 1.5% in
December from a year-ago period.